Friday, February 26, 2010

Back to fundamentals

House prices to suffer "significant correction" in 2010

House prices are expected to suffer a “significant correction” this year as figures show recent rises are beginning to lose momentum.

Posted by dill @ 11:48 AM (1768 views)
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11 thoughts on “Back to fundamentals

  • A lot of people were expecting a “significant correction” in house prices in 2007, 2008, 2009…

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  • I don’t know about where you live, but prices have fallen by about 25K on a £125,000 house in our part of Derbyshire. That seems significant to me.

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  • I’ve noticed quite a lot of price reductions on primelocation recently.

    The estate agent says that the economic recovery seems to be ‘dragging’, which is a funny turn of phrase. He seems to be expecting a bounce back to pre-crunch levels of activity.

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  • “And David Smith, a partner at estate agents Carter Jonas, warned: “There is every chance prices will fall back in the second half of the year”

    How does he work that out when prices just fell 1% in February, what a plonker!

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  • @ 1. cornishman

    To be fair prices did start falling from the summer of 2007 and we did have a significant correction in 2008. It’s just that a sellers strike together with government stimuli on a level never ever seen before in this country’s history managed to stop (and partially reverse) this correction in 2009.

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  • need-a-crash – I kind of agree… We have had a crash, but govt intervention meant it was in every currency except sterling. Once we have had the next leg down we’ll have half the country in negative equity AND a currency worth fack all!

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  • we have not had a crash……house prices in japan(the only comparrison to today’s scenario) fell for the last 17 years….house prices are based on salarys of people who need housing to live in…investors quickly disappear when assets are falling

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  • Sales are like wild fires in my back yard. No let up here folks.

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  • Scorched earth policy where you are at the moment then, smugdog. Get ’em while you can, eh? Before they get you!

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  • Perhaps it’s not so desirable around your neck of the woods Dilly.
    It’s positively spring time in my garden.

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  • Ah – You’re a fan of “The Producers”, Smugdoggy.

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